The U.S. will impose tariffs on computer chips, pharmaceuticals, steel, aluminum, copper, oil and gas imports as soon as mid-February, President Trump said.

Though the United States is the global leader in designing chips, the vast majority of chip production happens overseas, particularly in U.S.-ally Taiwan.

If he follows through, it could raise prices on many day-to-day items as economists are almost unanimous that tariffs are passed on as consumer price increases.

Donald Trump called for tariffs on foreign computer chips, semiconductors, and pharmaceuticals from places like Taiwan in the near future.

He joined The Verge in 2021 after several years covering news at Engadget. Without going into detail about what might happen to the $52 billion in subsidies from the CHIPS Act under his administration,

Trump Announces New Tariffs On Foreign Production Of Computer Chips In remarks to House Republicans in Miami, Florida, President Trump discussed new tariffs on foreign-produced computer chips. Fuel your success with Forbes.